This is the February 2020 Real Estate Market Report for Loveland CO
January 2020 home sales were slow in Loveland CO, as is normal for the season. There were 101 homes sold, a drop of 30.9% from the 146 sales in December 2019, and essentially the same as the 100 homes sold in January 2019.
Loveland CO home prices declined in January 2020, but not by any significant amount. The median price fell 2.3% to $397K from $406K in December 2019 and the average price fell 0.4% to $458K from $460K in October 2019. There just weren’t enough sales during the month to make these small movements meaningful, but the long-term trend line is still moving upward.
Rather than the seasonal decline we expected, the inventory of homes for sale did manage to surprise us a bit, as January ended with 294 homes on the market, a gain of 8.1% over the 272 homes for sale at the end of December 2019. The Month’s Supply of Inventory (MSI) rose to 2.9 months, with sales declines and inventory gains.
There never is much to say about the real estate market in the dead of winter. There just isn’t much happening, and there are very few reliable indicators to suggest future market trends. But structurally, we don’t see any indications - yet - of any significant change from what the market has done over the last couple of years. So we’re expecting a slow and steady increase in prices, with sales maintaining the previous slower pace, and continuing difficulty for affordable home buyers.